Baring reshuffles the pack with new Schroders investment chief
BARING Asset Management, the last remaining remnant of historic City firm Barings, yesterday appointed a new chief investment officer from blue-blooded rival Schroders, in the wake of a high level exec reshuffle.
Ken Lambden, global head of equities at Schroders, will join the group on 16 September. He was previously chief executive of Schroders in Australia.
The appointment comes in wake of the impending exit of Percival Stanion, one of Barings’ most senior executives, who headed the group’s well regarded multi-asset business.
Stanion, a 13-year veteran of Barings, will leave in September to take up another as yet unnamed role. Two senior colleagues in the multi-asset department, Andrew Cole and Shaniel Ramjee, will follow Stanion out the door.
Stanion will be replaced by Barings’ current CIO Marino Valensise, and report to Lambden.
“It is a natural fit for Marino to assume leadership of our multi asset franchise ensuring continuity of investment approach and insight across the portfolios,” Barings’ chairman and chief executive officer David Brennan said.
Baring Asset Management is owned by US company Massachusetts Mutual Life Insurance Company, which bought the group from the remnants of Barings bank following its infamous collapse in 1995. The company now manages more than $60bn (£36bn) in assets.